RITES rises on receiving LoA worth Rs 59.13 crore
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Rites is currently trading at Rs. 287.95, up by 2.30 points or 0.81% from its previous closing of Rs. 285.65 on the BSE.
The scrip opened at Rs. 284.35 and has touched a high and low of Rs. 289.00 and Rs. 282.05 respectively. So far 39702 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 413.08 on 27-Feb-2024 and a 52 week low of Rs. 217.68 on 10-Nov-2023.
Last one week high and low of the scrip stood at Rs. 298.60 and Rs. 271.45 respectively. The current market cap of the company is Rs. 13838.99 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 12.83% and 14.97% respectively.
RITES has received the Letter of Acceptance (LoA) on October 28, 2024 from U.P. State Bridge Corporation for Consultancy Services for Construction Supervision of Civil Works (CSC) for Supervision, Monitoring, Quality Control, and Work Zone Safety for Construction of Bridges, Rail Over/Under Bridges, Flyovers and Elevated Roads including approaches in several districts of Uttar Pradesh. Broad consideration of contract is Rs 59.13 crore excluding GST. The said contract is expected to be completed in 36 months.
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.
